8K Miles software acquires US based Cornerstone Advisors; stock up 8 %

Leading provider of software and cloud solutions, 8K Miles has announced today that the Company’s US-subsidiary has entered into a definitive agreement to acquire Cornerstone Advisors Group, LLC., a leading US Healthcare Information Technology company, for USD 10.25 million. This acquisition is expected to close by the end of the current fiscal.

Cornerstone Advisors is a privately held firm based in Georgetown, Connecticut. Company provides executive level Information Technology Advisory, Consulting and Implementation services to the healthcare provider industry. Cornerstone’s vast areas of expertise include: Population Health and ACO Enablement, Physician, Post-Acute Care Integration, EMR Selection and Implementation, Strategy Definition, Total Cost of Ownership Planning, Compliance, Change Management and Value Realisation.

Once completed, the acquisition of Cornerstone will further strengthen the 8K Miles position as a Partner, Consultant and Technology Solution Provider to Healthcare clients in the U.S.

8K Miles' existing cloud and security platforms coupled with Cornerstone’s management consulting, healthcare, IT implementation and advisory services would enhance 8K Miles compelling value proposition for diversified group of healthcare clients in the US.

Reacting to the acquisition news, shares of 8K Miles have surged more than 8 per cent on an intra-day basis to touch Rs 702 on NSE.